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148 & 150 Spring St 2 Properties in New York, NY
Executive Summary
Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the fee simple sale of 148 & 150 Spring Street (“the Property”), an institutional-quality mixed-use offering totaling approximately 14,507 square feet in the heart of SoHo. This rare offering comprises two adjacent buildings with 40 feet of combined Spring Street frontage between Wooster Street and West Broadway, positioned within one of New York City’s most coveted and supply-constrained retail corridors.
148 Spring Street features ground floor retail and three commercial units above offering a diversified mix of retail, showroom, and office uses. 150 Spring Street consists of ground floor retail, two commercial units, and one apartment. There is optionality to convert the commercial office suites into residential apartments.
The combined properties are 77% leased to creditworthy national and boutique tenants with 7.6 years of WALT. Dr. Martens anchors the assets with a lease through October 2037. Amouage, the adjacent retail tenant has a lease through December 2032. Favorable net lease structures with tenant reimbursements for taxes, CAM, and insurance enhance cash flow and deal economics.
150 Spring Street is fully leased while 148 Spring Street is 53% occupied, with two vacant suites totaling 3,748 square feet offering immediate value-add opportunity through lease up.
148 Spring Street features ground floor retail and three commercial units above offering a diversified mix of retail, showroom, and office uses. 150 Spring Street consists of ground floor retail, two commercial units, and one apartment. There is optionality to convert the commercial office suites into residential apartments.
The combined properties are 77% leased to creditworthy national and boutique tenants with 7.6 years of WALT. Dr. Martens anchors the assets with a lease through October 2037. Amouage, the adjacent retail tenant has a lease through December 2032. Favorable net lease structures with tenant reimbursements for taxes, CAM, and insurance enhance cash flow and deal economics.
150 Spring Street is fully leased while 148 Spring Street is 53% occupied, with two vacant suites totaling 3,748 square feet offering immediate value-add opportunity through lease up.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 13,657 SF |
| Number of Properties | 2 | Total Land Area | 0.08 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,657 SF |
| Total Land Area | 0.08 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 148 Spring St, New York, NY 10012 | Office | 7,257 SF | 1920 | - |
| 150 Spring St, New York, NY 10012 | Retail | 6,400 SF | 1920 | - |
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Contacts
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Ethan Stanton -
Jonathan Hageman -
Michael Mazzara -
Brendan Maddigan -
Guthrie Garvin -
Hall Oster -
Giancarlo Cugini -
JLL
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148 & 150 Spring St
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